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ABC
Dec 27, 2012 5:00pm EST
. washington's failure to avoid the cliff threatens to undermine the recovery as americans face big tax hikes, adding to the mess the treasurey department is warning that the government will soon be unable to pay its bills. the house republican leaders say they will take action on whatever bill the senate can pass but the senate must act first. abc news washington. >> now for more on the fiscal cliff and what it could mean for your pay we have you covered. just head to the home page, slide show for a break down of what difference situations in washington could mean for your bank account. >>> and we are working for you with only four days left in the year it's a good time to talk about the maryland homestead tax credit application deadline one more time. the credit is used to help off set increase in your state property taxes. that would happen if your home's assessed value jump but it's only supposed to go for primary residents. the state legislature passed a law to try to cut down homeowners getting the credit for properties they shouldn't have been getting credit for. for the past fiv
FOX
Dec 26, 2012 5:00pm PST
valley fog. when i come back, we'll have a computer model of where the fog is. >>> wasted tax dollars. you'll be surprised where government officials are spending your money. >>> and call it an incentive plan. the unique program being considered by san francisco to save money on health care costs. [ laughter ] [ girl ] wow, you guys have it easy. i wish i had u-verse when i was your age. in my day, we didn't have these fancy wireless receivers. blah blah blah. if i had a sleepover, i couldn't just move the tv into the playroom. no. we had to watch movies in the den because that's where the tv outlet was. and if dad was snoring on the couch, we muscled through it. is she for real? your generation has it made. [ male announcer ] the wireless receiver only from at&t u-verse. get u-verse tv for $29 a month for six months. rethink possible. >>> taxpayer money is paying salaries and bonuses to workers and elected officials who have been suspended and convicted of crimes. that's what our washington bureau reporter macfarlane found after digging into pub records >> reporter: he orches
FOX
Dec 27, 2012 5:00pm PST
washington, d.c. this morning. he was called to pass a scaled back agreement to keep taxes from going up. the senate went back into session today. leaders accused each other of standing in the way of a deal. >> you can't legislate with yourself. we have nobody to work with. compromise. >> republicans aren't about to write a blank check just because we find ourselves at the edge of the cliff. >> the house will convene on sunday. republicans already refused to take a vote on speaker of the house john speaker of the house john boehner's plan. with no deal in the works you are likely to see a smaller pay check. ktvu's consumer editor tom vacar joins us to detail what it will cost taxpayers. >> reporter: indeed, more than a cliff for some. >> reporter: for more and more americans, the fiscal cliff is being viewed as a failure of government. >> they are on vacation, doing whatever they are doing. they don't care. >> i just don't think they will ever come to an agreement. both parties are so far apart that there is no common ground. >> reporter: if you make between 50-60,000 deal, taxes go u
FOX
Dec 28, 2012 5:00pm PST
middle class of america so that the wealthy do not have to pay their fair share. >> we could tax all the rich people and cut their heads off and it would not help the fiscal cliff. >> reporter: talk now of a smaller deal that extends bush tax rates for the middle class and extends unemployment benefits. but puts off major spending cuts and reform to entitlements like medicare. >> we're going to end up with a small, kick the can down the road bill that creates another fiscal cliff to deal with with fiscal cliff. >> reporter: lawmakers are talking about how to retroactively avoid going off the fiscal cliff on a new congress. >>> the fiscal cliff debate is impacting people here in the bay area who's lives could dramatically change as soon as tomorrow. tom vacar is live at a highway work site in oakland and has the story of one woman and her looming fear. tom-- >> reporter: the people who work here are well paid and they're onvacaon. but for other people, the fiscal cliff might as well be a financial guillotine. though ilea thomas searches, she's been out of work for two years picking up
ABC
Dec 26, 2012 5:00pm EST
christmas is over, we are days away from this looming fiscal cliff which would raise taxes on all americans and immediate cuts. some agencies are phages furloughs -- facing furloughs. president obama and congressional leaders are cutting their vacation short to be back in washington but it's not clear whether a last-minute deal can be reached. >> i don't want to go over the cliff. >> middle class people will have their taxes go up an average of $2,000 a career and we should start making meaningful reform on the debt. >> there's talk about a smaller deal by harry reid that would prevent tax increases on those earning less than $250,000. >>> starbucks has come up with a democratic way for people to send a message to washington. the coffee giant is asking the stores to write the words come together on all drinks served tomorrow and friday. >>> well, they invested in a finance company owned by a now infamous baltimore insurance pitch man. now that hal katz business has gone belly up, they're out of luck. investigators continue digging into the story we first brought you in october. so
FOX
Dec 21, 2012 5:00pm PST
a middle class tax hike and would protect unemployment insurance. he spoke after talking by phone with house speaker john boehner and meeting with senate majority leader. >>> the dow industrials dropped 120 points. the nasdaq fell 29. we also saw a number of conflicting economic reports that experts say suggests the economy is not sure where it's going top our consumer editor tom vacar is in san francisco's financial district with some explanations. >> reporter: there are two winds. those that are blowing and the much more important economic cross winds. for the overall economy most critical shopping days are ahead of us. >> i'm very cautious about how i spend now but i can imagine that spending if something like this happens. it will definitely affect how i spend my money. >> reporter: that worries consumertologist psychologist. >> the drop in consumer confidence has everything to do with the fiscal cliff. what we're seeing is that consumers really don't have a sense of trust that they're safe. they're wondering about the future ramp consumer spending numbers just released for no
ABC
Dec 29, 2012 5:00pm PST
fiscal cliff. three days now until higher taxes for all. will there be a deal? as americans and their 401(k)s already taking a hit, paying a brice because of that standoff. >>> crash landing. the jet that skidded off the runway nearly smashing into a crowded highway. >>> and back in the game. the football coach whose battle off the field inspired a major turnaround on it. and tonight, he's about to return.
CBS
Dec 28, 2012 5:00pm PST
was that income threshold that would see tax increases. the president as we know wanted to see those tax increases for households making more than $250,000 while the speaker wants the increase to start at a million dollars. so they have a long way to go. i'm grace lee, cbs 5. >>> wall street isn't putting faith in washington. the dow lost 158 points today. its five-day losing streak is the longest since july. the nasdaq and s&p 500 also closed down. >>> police pulled over a bmw for speeding. but before the officer could walk up to write the ticket, the driver floored it and tried to get away. moments later, the bmw slammed into another car a few blocks away from bishop o'dowd high school. cbs 5 reporter da lin tells us an innocent person was killed because of another's recklessness. >> reporter: it started at 98th and bancroft. two chp officers patrolling the streets of oakland pulled over a bmw for speeding. the driver initially stopped but once the officers got out of their car, investigators say the bmw sped away. less than a mile away, the chp says the driver of the silver bmw m6
CBS
Dec 21, 2012 5:00pm PST
. >> unless the president and congress take action, tax rates will go up on every american taxpayer and devastating the defense cuts will go into effect in 10 days. >> reporter: his bill would have extended tax rates for households making a million dollars a year. the president put the threshold at $400,000. the white house and democrats here on capitol hill are frustrated that speaker boehner spent the last several days pushing plan b instead of focusing on a bigger compromise. >> nobody can get 100% of what they want and this is not simply a contest between parties in terms of who looks good and who doesn't. >> reporter: disagreements over how much to raise taxes and cut spending continue to separate democrats and republicans. >> what the president has proposed so far simply won't do anything to solve our spending problem. >> reporter: both sides insist they are still committed to stopping the big tax hike coming at the end of the year. tara mergener for cbs news, washington. >>> the failed efforts on the "fiscal cliff" sent the stock market sliding. the dow dropped more than 120 poin
CBS
Dec 27, 2012 5:00pm PST
reach agreements before tax hikes and spending cuts kick in january 1. >> we have been asking the president and the democrats to work with us on a bipartisan agreement for months. >> i don't know time wise how it can happen now. >> reporter: the senate majority leader wants house republicans to return from their vacations to approve a democratic senate plan that extends tax cuts for families making less than $250,000 a year. >> that's the only option that is viable escape route. >> reporter: but republican leaders say it's up to democrats who control the senate and white house to avert the "fiscal cliff." >> republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> reporter: house members will return to capitol hill on sunday and could begin voting that night. they would have about 24 hours to approve a deal. adding to the urgency, treasury secretary timothy geithner warned congress that the nation's debt limit will be reached by december 31st and extraordinary measures would have to be tak
CBS
Dec 24, 2012 5:00pm PST
inches of new snowfall in the sierra about 5,000 feet. we will track sack tax cuts and your forecast, coming up. >>> talk about news you can use if you're really last minute. unique gift items that can hide the fact they were bought on christmas eve. ,, trap -- to lure firefighter >>> a developing story out of new york. this home was set on fire and used as a trap to lure firefighters. police say a gunman set the fire and waited for help to arrive. he then started shooting. two firefighters were killed. two others survived. >> cbs reporter jennifer lewis hall is learning more about the firefighters and the man who killed them. >> reporter: firefighters rush to this early morning fire near new york and were met by bullets. police say the 62-year-old lit a home and car on fire so he could lure first responders to the scene and shoot them. two firefighters were killed in the ambush. two more were injured. with crews under attack the flames burned out of control jumping from home to home. >> i am not aware of anything like this in my 23 years. >> a s.w.a.t. team was called in and police
Search Results 0 to 10 of about 11